Bangladesh

What's doing well: Bangladesh is poised to do well in large part because its low starting point leaves it with a lot of room to grow. It also has a young, rapidly growing, cheap labor force. Bangladesh's stock market is larger and more liquid than other frontier markets.

Risks: Limited employment opportunities are pushing more Bangaldeshi's abroad in search of work, and the country's infrastructure needs to be developed. The lack of regulation and supervision poses a risk to its financial sector.

Source: Citigroup

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Egypt

ap

Long-term GDP growth rate: 6.3%

GDP per capita: $2,810

GDP: $231.9 billion

Population: 82.5 million

Adult literacy rate: 66%

What's doing well: Egypt's rapidly growing population is better educated than the population of many neighboring countries. Energy, trade, transportation and tourism are all doing well in large part because of its key geographical location.

Risks: In the wake of the Arab spring economic and political risks remain high, and many foreign investors have pulled their investments from the country. Youth unemployment is also an issue its new government will have to contend with.

Source: Citigroup

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Ghana

World Bank

Long-term GDP growth rate: N/A

GDP per capita: $1,546

GDP: $38.6 billion

Population: 25.0 million

Adult literacy rate: 67%

What's doing well: Ghana's offshore Jubilee field has made the country the newest oil producer in the world. It is already rich in commodities like gold, cocoa, diamonds and manganese. And unlike many of its neighbors has a functioning democracy.

Risks: Ghana needs to avoid the resource curse / paradox of plenty in which countries rich in natural resources have weaker growth than economies with fewer natural resources. Moreover elections in Ghana have been followed by fiscal crises.

Source: Citigroup

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Iraq

ap

Long-term GDP growth rate: 7.6%

GDP per capita: $3,325

GDP: $108.6 billion

Population: 32.7 million

Adult literacy rate: 78%

What's doing well: Iraq's oil production is set to rise more than any other country in the next decade.

Risks: The Kurdish Regional Government (KRG) and the federal government continue to disagree on oil laws. Security continues to be a major risk, the presence of U.S. troops increases the risk of domestic turmoil while its withdrawal could see a surge in violence which local security forces are unprepared for.

Kenya

What's doing well: Offshore natural gas deposits have been discovered close to the Ethiopian border and telecommunications industry is growing rapidly. It also functions as a business and manufacturing hub in East Africa.

Risks: Ethnic tensions persist and unrest in Somalia has seen military intervention by Kenyan troops. At 15%, inflation is high driven by rising food prices because of a drought in the horn of Africa.

Source: Citigroup

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Mongolia

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Long-term GDP growth rate: 6.9%

GDP per capita: $3,127

GDP: $8.8 billion

Population: 2.8 million

Adult literacy rate: 97%

What's doing well: Mongolia is rich in natural resources, specially copper and coking coal which are crucial for neighboring China. It has a young, growing population and a high domestic savings rate compared with other frontier markets.

Risks: Mongolia, like other resource rich nations needs to avoid the resource curse.

Sri Lanka

What's doing well: Foreign investments to Sri Lanka have surged since the end of conflict between the terrorist group LTTE and the Sri Lankan government. Exports have picked up especially in textile manufacturing, and agricultural products.

Risks: The government's Asset Acquisition Act which allows the state to acquire assets once owned by the government but sold at a discount poses a risk to foreign investment.

Ukraine

What's doing well: Ukraine's agricultural sector is one of the best in Europe. It also has a well educated workforce that can help drive manufacturing.

Risks: Corruption poses a risk to businesses and eurozone issues have hurt its banking sector. Currency devaluation is also an immediate risk. Ukraine is also too dependent on Russia for energy.

Source: Citigroup

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Venezuela

Long-term GDP growth rate: 4.3%

GDP per capita: $10,525

GDP: $309.8 billion

Population: 29.4 million

Adult literacy rate: 95%

What's doing well: Venezuela has one of the largest oil reserves in the world, and is a major oil exporter.

Risks: Half of government revenues depend on oil exports so the economy is always at risk from oil prices. President Hugo Chavez's decision to nationalize oil, cement, steel sectors and supermarkets led to a drop in foreign investment.